|
|
|
 |
|
||||||||
|
|||||||||
|
|||||||||
|
|||||||||
 |
|
 |
|
|||||||||||||
|
|
International VC firms form Telecom Venture Coalition 3i, Mayfield and Worldview Working with IBM to accelerate adoption of new global telecom technologies, PALO ALTO, LONDON, HONG KONG - February 4, 2003 - Three leading venture capital (VC) firms - 3i, Mayfield and Worldview Technology Partners - have formed the Telecom Venture Coalition (TVC), a group that will help facilitate closer working relationships between IBM and VC-led businesses operating in the global telecommunications market. TVC’s goal is to accelerate customer adoption of new, global communications technologies and next-generation Linux solutions by connecting emerging VC portfolio companies with IBM at an early stage in their growth. The group will leverage the VC firms' expertise in the international telecom arena, their experience in developing successful international tech businesses and IBM's global technology leadership. Two TVC member portfolio companies have already been introduced into the TVC process: Intelliden, backed by investors that include 3i, and Convedia, which is backed by Mayfield. "This coalition recognizes the increasingly global nature of the telecom industry and its demand for sector-specific expertise and international reach," said Mike Hill, General Manager, IBM Global Telecommunications Industry. "It will work to surface innovative new technologies, speed time to market and ultimately contribute to the growth of the entire industry." Dale Hecht, president and CEO of Intelliden, said the time is right for this sort of coalition because it addresses three key telecom industry trends. "There are more devices to support, more data transport and more complexity to manage," he said. Peter Briscoe, president and CEO of Convedia, added that TVC's founding members share a common vision and commitment to build "best of breed, open standard solutions using IBM's Linux-based systems -- and that's an unbeatable formula." Building Bigger Businesses, Faster By helping foster relationships with IBM, TVC hopes to give VC portfolio companies invaluable early-stage access to a leading provider of products and services to the global telecom market. It will also help identify potential business development opportunities and spotlight business trends. This early access also gives IBM a window into a wide range of emerging tech companies and helps surface innovative solutions that could support IBM's global telecom industry strategies. Global Technology Demands Global Relationships TVC's founding members bring together a variety of complementary strengths in the global telecom industry. 3i has 55 years of industry sector knowledge and global experience, Mayfield is known for its domain expertise in enterprise software, networking and communications and Worldview brings to the table a blend of operating and venture experience as it helps portfolio companies expand and succeed in global markets. "3i has worked closely with IBM's venture unit around the world," said Martin Gagen, president and CEO of 3i's U.S. business. "TVC's ability to connect customers quickly with emerging technologies and new businesses represents a fantastic opportunity for everyone involved." "Helping these young companies potentially gain access to global markets, key customers and other companies gives them a head start that may ultimately help them succeed," said James Wei, co-founder and general partner of Worldview Technology Partners." In today's competitive environment, it's tough to build sustainable businesses," said Kevin Fong, managing partner at Mayfield. "Early-stage companies need to build a global customer base as quickly as possible. The TVC could pave the way for teaming in areas like customer proposals," he added. Intelliden And Convedia Are Early TVC Participants Intelliden, one of the two initial TVC member portfolio companies, offers business-driven device management software solutions that enable service providers, enterprises and governmental agencies to quickly and reliably configure their heterogeneous routers, LAN / WAN switches, firewalls and optical devices. Its solutions help control network costs and support new services. Convedia, another founding member portfolio company, provides media servers that consolidate the functions of announcements servers, interactive voice response units, conference bridges, messaging and speech platforms into a multi-service, standards-based solution for wireline and wireless networks. About 3i 3i, a leading international venture capital - private equity firm, is listed on the London Stock Exchange as a FTSE 100 and MSCI Europe company. With more than 900 staff working from 36 offices across Asia, Europe and North America, 3i is in a unique position to help entrepreneurs succeed. Since 1945, 3i has invested more than US$22 billion (including co-investment funds) in more than 14,000 growing businesses. 3i invests in a wide range of opportunities, from start-ups to buy-outs, focusing on businesses with high growth potential and strong management. Offering far more than just capital, 3i's aim is to partner with portfolio companies in a value-added approach that leverages more than 55 years of experience, an unrivaled international network, strong capital resources and industry credibility. For more information, please visit www.3i.com. For further information contact:
About Mayfield Mayfield provides "venture capital with impact" and shows leadership in early-stage venture investing by teaming with exceptional individuals to create industry-leading companies. Mayfield has deep domain expertise in enterprise software, networking and communications technology. Since Mayfield's founding in 1969, the firm has invested in more than 400 companies, completed hundreds of mergers and acquisitions and taken 150 companies public. Mayfield's portfolio of companies includes those that represent the foundation of today's technology economy, as well as companies striving to set the technology paradigms of the future. For more information, please visit www.mayfield.com. Contact: Jennifer Jones, 1-650-854-5560, jjones@Mayfield.com Jon Greer, 1-510-547-7123, jon@TheMediaBridge.com About Worldview Technology Partners Founded in 1996, Worldview combines a focused investment strategy in emerging IT technologies with international value-added services. Worldview's unique international value-added services team enables Worldview's portfolio companies to more easily penetrate global markets for customer, supplier and manufacturing relationships. It also serves as a valuable source of market information and customer feedback. Worldview has an investment office in Palo Alto and business development offices in Tokyo and Singapore. Worldview has more than 80 companies in its portfolio. For more information, please visit www.worldview.com. Contact: Steve Kaufman, VCPR, 1-408-436-0774, skaufman@vcpr.com 
|
|
|
|
|
|
|
